Thursday, September 01, 2016

More 3000% rate decreases

This never gets old:

So two more individual medical renewals hit my desk this morning. Both are with the same carrier, both are HSA-compliant with $3000 per person deductibles then 100%, both are grandmothered (meaning they're only partially ObamaCare-compliant, but still "kosher") [ed: for now]:

Sally and her family of four currently pay about $930 a month; their rates are going up 15%, to $1,065 per month. This means that the family will spend just shy of $13,000 before the plan pays bupkes.

Still, that's a bargain: a comparable fully compliant plan will set them back about $1200 a month, and that's with a $6500 per person deductible. So they'd have the privilege of more than doubling their medical expense out-of-pocket while paying only 20% more in premiums.

Such a deal!

Terry's increase is 17%, from $295 a month to about $350. That's also still a bargain: a comparable new plan goes for $480 a month and also comes with a $6500 deductible. This means that Terry would be out almost $11,000 before the plan paid a dime. Well, except for pap smears, mammograms and birth control convenience items. Oh, did I mention that Terry's a 53 year old guy?

And they're the lucky ones.
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